Satyam-Upaid case hearing on January 7

More trouble may be brewing for the beleaguered Satyam Computers with a Texas district court scheduled to hear on January 7 a case against the IT major filed by a small British mobile solution firm, Upaid, over the Maytas deal.

On January 10, Satyam is holding a board meeting to discuss options for restoring shareholders confidence after the failed Maytas deal and any further legal development before that could spell more problems for the management.

Upaid, which is already fighting a forgery case against Satyam in a US court, had filed a motion against Satyam Computer Services with the state court, saying that they are looking for a testimony from Ramalinga Raju, CFO Srinvas Vadlamani, and the company's Head of Corporate Governance Jayraman after the abortive Maytas deal.

A Satyam spokesperson said the company is expected to submit its response this week-end. The court can thus say that there can be a testimony after which the Satyam officials will go for a testimony or instead the court can rules in favour of Satyam.